Western Information Office


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14-1559-SAN

Tuesday, August 19, 2014

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Consumer Price Index, Phoenix – First Half 2014

Area prices up 1.2 percent over the past six months, up 1.5 percent from a year ago

Prices in the greater Phoenix area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 1.2 percent in the first half of 2014, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Richard J. Holden noted that this latest six-month increase was influenced by higher prices for shelter. (Data in this report are not seasonally adjusted. Accordingly, six-month-to-six-month changes may reflect seasonal influences.)

Over the past 12 months, the CPI-U rose 1.5 percent. (See chart 1.) Energy prices moved down1.7 percent, mainly due to a decrease in the price of gasoline. The index for all items less food and energy increased 2.0 percent over the year.

Chart 1. Over-the-year percent change in CPI-U, Phoenix, Second half of 2010  First half of 2014

Food

Food prices advanced 1.3 percent in the first half of 2014. (See table 1.) Prices for food at home rose 1.5 percent for the past six months. Prices for food away from home increased 0.7 percent for the same period.

For the year ending in the first half of 2014, food prices rose 1.1 percent. Prices for food at home advanced 1.6 percent during the past 12 months, and prices for food away from home increased 0.6 percent.

Energy

Energy prices declined 0.8 percent since the second half of 2013, largely due to lower electricity prices (-7.7 percent). Prices increased for natural gas service (7.5 percent) and gasoline (3.1 percent) during the first half of 2014.

Energy prices decreased 1.7 percent over the year, influenced by a decrease in gasoline prices(-3.6 percent). In contrast, prices increased for natural gas service (7.8 percent) and electricity(0.6 percent) during the same period.